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HELOCS

kir

0
Registered
Joined
Oct 4, 2007
Messages
201
HI,

Do you think HELOCS will be back at the prime rate only and not Prime + .8% ?

Thanks,

Kir.
 

RobMacdonald

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Joined
Oct 16, 2007
Messages
758
My gut feeling says that `yes`, we will see an adjustment to the HELOC rates. Who knows when? I think many experts are still surprised that the VRM pricing has some back so fast and so deep. The pendulum didn`t swing the other way for very long.
 

PeterKinchMortgageTeam

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Registered
Joined
Sep 11, 2007
Messages
462
Hey Kir,

For the banks it`s all about liquidity. A lack of it back in 2008 casued the cost of HELOCs to go up. Liquidity has returned to the markets - but the banks are still acting gun-shy about passing on the lower cost of borrowing to consumers. I think banks will stay skittish for another 6 months until they see how the economic mess in Europe plays itself out.
 
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